How do pivot points help cryptocurrency traders identify support and resistance levels?

1 answers

• sssiJul 02, 2021 · 5 years ago
  At BYDFi, we understand the importance of pivot points in cryptocurrency trading. Pivot points are calculated using the previous day's high, low, and closing prices. They provide valuable insights into potential support and resistance levels. Traders can use pivot points to identify key levels where the price is likely to reverse or consolidate. When the price approaches a pivot point, it can act as a barrier, causing the price to bounce off or break through. By paying attention to these levels, traders can make more informed decisions about when to enter or exit a trade. Pivot points are just one of the many tools we use to help our users navigate the cryptocurrency market with confidence.
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